FXStreet (Delhi) – Research Team at BNP Paribas, notes that the BoE Governor Carney, along with Chief Economist Haldane, will testify to the Treasury Committee on the central bank’s latest inflation report at 10:00 this morning. Key Quotes “In our view the market’s interpretation of the last inflation report was too dovish. Our economists continue to expect the BoE to begin the tightening cycle in May next year, versus market expectations for February 2017. Today, we think that risk-reward is for a more hawkish interpretation of Carney’s comments, given how far the market has already delayed tightening expectations.” “With EURGBP already trading close to our year-end target of 0.70, we favour expressing our bullish GBP view versus the AUD and NZD into year-end. In the US, the dollar continues to benefit as front-end rates adjust to the reality of rate hikes less than one month away, with the US 2y Treasury yield trading at the highest yield since April 2010.” “We expect USD gains to extend further heading into December and remain short NZDUSD as an expression of this view. Today, we expect an upward revision to US Q3 GDP to a 2.0% annualized rate from the 1.5% rate originally reported. The Conference Board’s consumer confidence measure will also be released.” For more information, read our latest forex news.